EURUSD | Technical Outlook After Fed-Driven Rally
Market Structure
EURUSD shows strong bullish continuation across all timeframes following yesterday’s post-Fed surge. The pair broke through multiple resistance levels and is now trading near 1.1700, marking a new multi-week high.
Short-term (M15 & H1) price action shows healthy bullish momentum, supported by moving-average alignment and strong impulsive candles.
Higher-timeframe charts (H4 & Daily) confirm a broader bullish shift, with the pair breaking out of a corrective structure and moving into a more sustained upward phase.
Key Resistance Levels
EURUSD is now testing a major resistance zone at:
- 1.1700 – 1.1715 (current ceiling)
A breakout above this region would confirm continued bullish dominance.
Next upside targets if 1.1715 breaks:
- 1.1740
- 1.1780 (stronger daily resistance)
- 1.1820 (extended target)
Key Support Levels
Nearest supports to monitor:
- 1.1670 – 1.1655 (intraday support on M15 & H1)
- 1.1625
- 1.1585 (major support on H4)
As long as EURUSD holds above 1.1655, the bullish outlook remains intact. A break below 1.1625 would indicate a deeper pullback.
Forecast
Bullish Scenario (Primary)
- Holding above 1.1655 keeps EURUSD positioned to retest 1.1700 – 1.1715.
- A successful breakout pushes the pair toward 1.1740, then 1.1780.
Bearish Scenario (Alternative)
- A drop below 1.1655 may trigger a correction toward 1.1625, with deeper declines only if that level fails.
Outlook
EURUSD remains strongly bullish following the Fed-induced breakout, with momentum favoring continued upside as long as price stays above 1.1655. The key focus today is whether the market can break and sustain above 1.1715, which would open the door to further gains.
